Proposed Provision: F5. Tax Reform for Business: Establish a value added tax (VAT) of 3.0 percent for 2022 and 6.5 percent for 2023 and later. Assume about 75% of personal consumption expenditures is subject to the VAT.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2020261261
2021248248
2022233233
2023217214
2024200194
2025183174
2026165154
2027148134
2028130114
202911294
20309474
20317653
20325833
20333913
203420-8
20351-29
2036-19-51
2037-38-73
2038-59-95
2039-80-117
2040-101-140
2041-122-163
2042-144-186
2043-166-210
2044-188-234
2045-210-257
2046-232-281
2047-255-305
2048-277-328
2049-299-352
2050-322-376
2051-344-399
2052-367-422
2053-389-446
2054-412-469
2055-434-493
2056-457-516
2057-480-540
2058-504-564
2059-527-588
2060-551-612
2061-575-636
2062-599-661
2063-624-686
2064-650-712
2065-676-738
2066-702-765
2067-728-792
2068-755-819
2069-782-846
2070-809-874
2071-837-902
2072-866-931
2073-895-961
2074-925-991
2075-955-1022
2076-986-1053
2077-1018-1085
2078-1051-1118
2079-1084-1153
2080-1119-1188
2081-1154-1223
2082-1190-1260
2083-1226-1297
2084-1263-1334
2085-1300-1372
2086-1337-1410
2087-1374-1448
2088-1411-1485
2089-1448-1523
2090-1484-1559
2091-1520-1595
2092-1554-1631
2093-1589-1666
2094-1623-1700
2095-1657-1734
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